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Mar 31, 2023
Optinose Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023 and provided operational updates.
Key Takeaways
Optinose reported Q1 2023 net revenue of $11.8 million from XHANCE sales, a 20% decrease compared to Q1 2022. The company is preparing for a potential launch of XHANCE for chronic rhinosinusitis treatment, with the FDA accepting the sNDA for review and assigning a target goal date of December 16, 2023. They expect XHANCE net revenues for the full year 2023 to be between $62.0 to $68.0 million.
sNDA for XHANCE for treatment of chronic rhinosinusitis accepted by FDA with a target goal date of December 16, 2023.
Two additional U.S. patents covering XHANCE were issued, expiring in 2036 and 2028, respectively.
Q1 2023 XHANCE net revenue was $11.8 million, a 20% decrease compared to Q1 2022.
The company had cash and cash equivalents of $83.9 million as of March 31, 2023.
Forward Guidance
Optinose expects XHANCE net revenues for the full year 2023 to be between $62.0 to $68.0 million and the full year 2023 XHANCE average net revenue per prescription to be approximately $200. Total GAAP operating expenses for 2023 are expected to be in the range of $88.0 to $93.0 million, including approximately $6.0 million in stock-based compensation.
Positive Outlook
- XHANCE net revenues for the full year 2023 expected to be between $62.0 to $68.0 million.
- Full year 2023 XHANCE average net revenue per prescription expected to be approximately $200.
- Total GAAP operating expenses for 2023 expected to be in the range of $88.0 to $93.0 million.
- Stock-based compensation for 2023 expected to be approximately $6.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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